BUSINESS REPORT: Top stories this morning

Eskom suspends its finance chief

JOHANNESBURG - South African power utility Eskom has suspended its chief financial officer, pending a disciplinary hearing, the firm said on Friday, the latest fallout from allegations of influence-peddling in government by close friends of President Jacob Zuma.

Shoprite boss gets R31.26m this year

DURBAN - Shoprite Holdings chief executive Pieter Engelbrecht has received a total remuneration of R31.26million for 2017, including bonuses, according the the retailer’s annual report. Engelbrecht’s annual salary in his first year as chief executive was R9.71m.

Emerging market currencies tumble

JOHANNESBURG - Exchange rates of emerging countries took a hiding last week due to the ongoing geopolitical storm between the US and North Korea, and the hawkish stance of the US Federal Reserve on expected hikes in interest rates.

Reserve Bank tells SA's big four banks they can’t fire KPMG

JOHANNESBURG - The SA Reserve Bank (Sarb) has told top lenders that they cannot fire auditor KPMG, entangled in a scandal involving friends of President Zuma, the Guptas, because it might undermine financial stability, two sources with knowledge of the matter say.